Empowered Funds LLC Has $423,000 Stake in Raymond James (NYSE:RJF)

Empowered Funds LLC grew its stake in Raymond James (NYSE:RJF) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,466 shares of the financial services provider’s stock after purchasing an additional 255 shares during the period. Empowered Funds LLC’s holdings in Raymond James were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ceredex Value Advisors LLC boosted its position in Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares in the last quarter. AGF Management Ltd. lifted its stake in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after acquiring an additional 378,033 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Raymond James by 34.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock valued at $60,462,000 after acquiring an additional 126,437 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Raymond James by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after acquiring an additional 113,826 shares during the last quarter. Finally, KBC Group NV increased its holdings in Raymond James by 28.2% in the 3rd quarter. KBC Group NV now owns 412,951 shares of the financial services provider’s stock worth $50,570,000 after purchasing an additional 90,845 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Up 0.9 %

Shares of Raymond James stock opened at $165.18 on Monday. The stock’s 50-day moving average is $139.90 and its 200 day moving average is $125.89. Raymond James has a one year low of $102.42 and a one year high of $165.42. The firm has a market cap of $34.02 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 0.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.13 EPS. Equities research analysts anticipate that Raymond James will post 10.83 EPS for the current year.

Analyst Upgrades and Downgrades

RJF has been the topic of several research reports. TD Cowen boosted their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Bank of America boosted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. JMP Securities increased their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Raymond James has an average rating of “Hold” and an average target price of $140.91.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.